VCs say big tech often helps startups, challenging House lawmakers

  • When House lawmakers released a 449-report earlier this month calling for new antitrust legislation against big tech companies, it lambasted Google, Apple, Amazon, and Facebook for contributing to an innovation “kill zone” that it said hurts startups. 
  • But a growing number of VCs and industry leaders are challenging such claims, calling them misleading.
  • VCs say that practices like acquisitions, which the report wants to make more difficult for large tech companies to do, actually benefits startups. 
  • They also point to data showing that the rise in venture capital funding in recent years has accompanied the rise of big tech.
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Buried in the sprawling, 449-page Congressional report spearheaded by House Democrats about regulating big tech is a recommendation that is making the venture capital world very nervous. 

To make it harder for big tech companies to snuff out young, upstart competitors by buying them,

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European lawmakers won’t be back in Strasbourg this month

BRUSSELS – European lawmakers won’t be returning to the French city of Strasbourg for next week’s plenary session because of the COVID-19 resurgence in France, the European Parliament president said Thursday.

The session also won’t take place in Brussels, where the virus situation isn’t better than in France.

Instead, European Parliament President David Sassoli said it will be held remotely due to the serious health situation in France and Belgium.

“Unfortunately last night, following a warning from health authorities and information about the virus that’s infecting MEPs, staffers and associates, this possibility vanished,“ Sassoli told a press conference. “Travelling is very dangerous; the situation in Strasbourg is critical and in Brussels it’s very serious.”

Plenary sessions scheduled in Strasbourg, which is the official seat of the European Parliament, have been scrapped since March because of concerns related to the coronavirus. Staff and parliamentarians are mostly based in Brussels but almost

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